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Any fluctuation of the PPS, one way or the other, is meaningless and will remain meaningless till a credible audit is produced.
Gee you're stupid!
I remember a poster who was as stupid as that. I suppose you are not acquainted with him. To bad. You would make an odd but nice couple ... unless you are him ... If so you know how to get your pleasure all by yourself. Go and enjoy it.
Have I missed something?
Done and over.
Sorry for grouping all my answers and comments but I live in Montreal, work in Quebec city and almost commute between the 2 cities!!!
Then please have someone ask him:"
1- Why do you want current shareholders to sell to new ones?".
2-"What's wrong with having been a Veltex shareholders for years?"
3- "Why would it be so nice for you to have a new bunch of shareholders replacing the old ones?"
I know for a fact that this is part of his wishes list!
And by the way (LOL!) you should ask him to release pictures of the rooms behind those one of us saw thru a window, standing on the rooof of his car, in the middle of the night ... Ha!, Ha!, Ha!,.
Hey! by the way, go back to John Daly (an associate of Matin) enjoy golf and relax!
"when VLXC flies to $2 to $3,"
By the way I like these numbers. I just do not know when (following a real audit) that will be.
My view: Year end at best.
"Ya'll know who I mean"
I, for one, think I do! God forbid!
As you say: "hehehehehehehe"
You realy are full of it!
Just so you know what I think reading you, knowing I do not realy know,I realy wonder who you are and how close you are to Matin???
I like your posting and beleive they are based on informations you are smart enought to get.
Keep it up. We shall figure out who was right and who wasn't within a year or two !!!
If you've been around for some time you must know the answer to all these questions. In particular: "If we do ever receive the Audited Financial Information, will they be closely matching the Unaudited amounts?", you have to know that in no way will it show a profit of $1 per share.
Very hoestly, the board will attract people when the stock becomes attractive and till then, not to many people will try to get info on this outfit thru a message board.
$0.65 + or - 5% =$0.62 - $0.68
Crash: Depends what you call crash but I think that current PPS presents quite a small risk.
Audits: Nothing serious will be doable for as long as the Bengladeshi issue will not be resolved. My view is that Matin will not be able to resolve that issue before the North American operation can justify a somewhat significant PPS ... by that I mean 2$ or a little more, certainly not the alluded to $10/share.
When will that be? I still do not hold my breath.
Regarding "questions about if Veltex actually owns the the Bangladesh operation", Matin answered this when preparing for his 2004 BOD meeting he issued (to few) a resolution he intended to have approved at the meeting (buying what we tought we owned thru issuing 180,000,000 new shares - pre R/S).
As for:"Are any of you going to actually take some action and call Veltex Corporation...": Here is the last e-mail I sent to Matin (he never answered that one)
De : Roy Roger
Envoyé : 21 mars 2006 09:26
À : 'ceo@veltexcorporation.com'
Objet : TR : Second sending - new address.
Mr Matin,
Hereafter is an exchange we had a few months ago. (Note: I kept that one out on purpose in here).
Your NR of yesterday (Note:Veltex Corporation Reports Record Profit for 2005 Buyback Program Opens With 330,000 Shares Returned to Treasury.) realy outlined a very successfull story, even better if we consider the value of our stock when you came back from Bengladesh and the failure of your strategic plan of december 2002 calling for a large synergy strategy.
This being said, you must realise that the market reacts seemingly less and less appropriately to your news releases, even when they outline numbers suggesting that our shares could be undervalued by a factor of 10. It may or not be, but I doubt they are worth much less than current PPS.
Unfortunately circumstances created a situation where potential shareholders do not beleive the Veltex story anymore, having absolutely no way to validate whatever it is that you say.
Undelivered promissed audits, trial at your 2004 BOD to buy back a facility we were previously told we owned, the Investrend affair and horrible disparaging messages on a certain message board, all together created this "credibility" issue.
If I can say so, the said credibility issue is the single most important issue you will have to address, if you want the value of your shares and mine to somewhat reflect the story you keep putting out. I assume that your bankers, large shareholders and other financial partners also would make your life much easier if our PPS was more important.
You may know it but I still want to say that in my view THE ONLY WAY OUT OF YOUR CURRENT SITUATION (extremely undervalued shares caused by lack of credibility) is to produce a credible set of audited financials signed and approved by a credible auditing firm, without the kind of disclaimers we have read the last 2 times you did try to produce some.
Notice that I do not suggest listing on another market to be as critical an issue as having a good credible audit performed and released.
I assume (but have no way to know) that your problem in doing so is related to the Bengladesh situation (whatever that is) and if so, you may also want to come out clean with the market on what this issue realy is and how you intent to clear it in the future.
Mr Matin, I have been around long enough to realize that you had to go thru extremely difficult time following the failure of your december 2002 strategic plan. You however (I beleive) were successful in building an operation worth more than $10,000,000 to $15,000,000 (current capitalization).
How much is it realy worth? Probably more than that and probably less than your suggested 10 times greater value.
One message you must have received loud and clear yesterday is that the market does not beleive what was outlined in your release.(Note: 3/20/06 open 0.946 high 0.991 low 0.791)
With all due respect, I hope you will have read this note understanding that it is witten with a very constructive intent and I wish you the best in reestablishing a mandatory credibility if Veltex shares are to become valued on merit by the market.
Roger Roy
All of this sounds great except Matin, for whatever reason, prefers not to be transparent with the market.
Notwithstanding all of these:
- We still do not know what we own and we we do not (Bengladesh)
- All we know is trhat options there are but God and Matin seem to be the only one knowing how many
- We obviously do not know what our revenues and profits realy are (see first point and remember we never got a real audit), never mind what our PE looks like
Bottom line we know nothing except that Matin keeps doing his show after years of bitching by many who claim they complained to SEC, state government, even the FBI (LOL).
My view:
Veltex does exist, it generates revenues and profits (but certainly not $1/share), it doesn't control the Bengladesh operation (but seems to include revenues and profits as if it did) and it will not be able to normalize untill this issue is resolved.
Then the shares will be worth more than what they now trade for ($2 would probably convince me to walk away) but DEFINITELY NOT what Matin tried to make us beleive.
Whae should that happen (solving the Bengladesh issue and normalizing)? I do not think even Matin knows that yet!
OH yes, now I remember what it reminded me ...
Lol! Why was it that seeing your picture I had a second tought??? LoL!
Same as usual... not great!
By the way you mat want to plan for delays at repair sites since our governments finally figured out that the roards needed repairs.
Still not Haiti but certainly not Florida yet!
B.S.
1- I will never understand why someone not holding shares in a company will spend time debating on a message board presumably made to allow shareholders to trade opinions and information ... unless the said someone has an hidden agenda behind his comments.
2- I neighter recommend anyone to become, stay or stop being a shareholder in VLXC. I just (as a shareholder myself) express my toughts and opinions, claiming regularly that I know as much as anyone knowing a little about this affair.
3- I cannot loose my "Investment" as you say, considering, as I often said, that I am not "invested" in Veltex but I "speculated" (high risk, interesting return potential) on it as part of my "speculating portfolio".
4- As for your pictures, anyone with some brain, having taken them the way you did (LOL) and beleiving they say what you claim they do, would visit the company during business hours to figure out if they mean or not what yo say they do. You however preffered (for reasons of yours) not to follow thru on your "finding" and in closing, using your opening line:
"That's just stupid"
See you decided to play with the raw nut today.
By the way, based on the pictures showned, VLXC must be a scam. The correlation "quality of offices" -"Quality of the company" is a known fundamental guidance for investors.
As an example, Enron's offices were real professionnal and beautiful. Therefore Enron was a great company to invest in as everybody now knows.
Now if you realy want to make it big, Nortel has great offices.
The last time we closed that low was October 22, 2004, 19 months ago :
11/1/04 2.32 2.32 1.82 2.05 55,500
10/29/04 2.41 2.41 1.86 2.27 121,400
10/28/04 2.60 2.81 2.27 2.36 191,700
10/27/04 1.14 2.82 1.14 2.36 986,600
10/26/04 0.918 1.14 0.818 1.05 157,700
10/25/04 0.682 0.909 0.636 0.818 227,300
10/22/04 0.582 0.682 0.582 0.60 43,800
10/21/04 0.568 0.568 0.568 0.568 3,500
10/20/04 0.591 0.636 0.582 0.582 31,600
10/19/04 0.627 0.659 0.595 0.595 20,000
10/18/04 0.682 0.682 0.627 0.682 16,400
One may think that many shareholders are givingup ... understandably but there are buyers out there real happy to take up whatever shares are becoming available ... that part is the one I have a harder time understanding.
Why would someone throw over $ 13,000 to buy 20,000 + shares of that stock, when nothing SEEMS to justify it?
I doubt it.
If I had a guess, I would say that someone close to the company is aware of something and accumulates at current PPS.
The interesting observation right now is that Matin doesn't even seem to try to support the PPS. He would try to sabotage his PPS and he would behave the same:
- LOI to acquire an UNNAMED company (with his credibility in the market, issuing that type of PR is far worse than not saying anything.
- Confirms the acquisition of "the accounts, brands, licenses and inventory of this company and we are assimilating their sales staff as well" ... " we are prohibited from naming the corporation at this time". LOL!
- "With our well-established overseas production capabilities, entering the designer clothing segment is great news for shareholders. We will release more news as our plans move forward." Again what does he say ???
Honestly, I would not be surprised if in X weeks or months, Matin would announce something which will be real, have significance and allow shareholders with sub dollar costs to profit from this currently depressed PPS.
Who is on the "sell" side?
???
OOPS!!! The wine was too great I think!!!
Have a good day at work (read the following on monday)
IN PRISON......you spend the majority of your time in a 10X10 cell.
AT WORK.......you spend the majority of your time in an 8X8 cubicle.
IN PRISON......you get three meals a day.
AT WORK.......you get a break for one meal and you have to pay for it.
IN PRISON..........you get time off for good behavior.
AT WORK............you get more work for good behavior.
IN PRISON..........the guard locks and unlocks all the doors for you.
AT WORK...........you're often required to carry a security card and
open all the doors yourself.
IN PRISON..........you can watch TV and play games.
AT WORK...........you get fired for watching TV and playing games.
IN PRISON.........you get your own toilet.
AT WORK..........you share the toilet with some people who pee on the
seat.
IN PRISON..........they allow your family and friends to visit.
AT WORK............you're not supposed to even speak to your family.
IN PRISON.........all expenses are paid by the taxpayers.
AT WORK.........you pay all your expenses to get to work, and then they
deduct taxes from your salary to pay for prisoners.
IN PRISON......you spend most of your life inside bars wanting to get
out.
AT WORK .....you spend most of your time wanting to get out and go
inside bars.
IN PRISON. .... You must deal with sadistic wardens.
AT WORK.........They're called Supervisors
Have a good day at work (read the following on monday)
Must be nice to be in the KNOW as much as you are.
Personally I do not KNOW much but wonder a lot.
How bad and how good is that bet.
For the moment I feel like sitting in front of most card being face down ... including my hand.
The fact is that for whatever reason, someone feels appropriate to buy shares at 3 to $5,000 a pop. I wonder who that is and why he (they) feel appropriate to gradually accumulate shares in this blind (???) date led by someone presumably anything but smart ???
2:37:22 PM Trade 0.72 4550 $3,276
2:33:14 PM Trade 0.72 5000
2:33:00 PM Trade 0.72 5000
1:00:12 PM Trade 0.72 8950 $6,444
12:30:50 PM Trade 0.72 5000
12:24:54 PM Trade 0.75 5000
12:24:48 PM Trade 0.73 5000
11:14:36 AM Trade 0.77 7000
10:54:24 AM Trade 0.75 5000
10:54:16 AM Trade 0.73 5000
10:52:10 AM Trade 0.74 5000
10:45:14 AM Trade 0.74 2500
10:34:28 AM Trade 0.78 4000
10:34:02 AM Trade 0.74 5000
...
Somehow, for some reasons I do not understand, Matin seems to very well accept a going down PPS.
If he only was running a scam, one would like to think that a high PPS is suitable ???
In this case, it seems that Matin enjoys issuing news releases which do create doubts and uncertainty in the market (great news presented in such a way that after reading the release one wonders what it realy was all about).
Matin suggest in writing that selling the shares is what one should do.
Matin doesn't do anything to support what he says or help someone to validate whatever it is he claims is happening.
Matin doesn't even mention anymore any plan to have an audit produced.
Bottom line, Matin seems to try to make current shareholders to sell their shares. I wonder who then is out there waiting to take them up at as low a price as possible.
What is this guy realy up to?
Assuming regulators have given him a look (so many claim they reported him to all possible regulation organisations), why can he keep doing what he has been doing for years without any problem whatsoever?
I wonder what his plan is (I assume he has one).
I've been in the stock market for more years than I want to admit, I have seen all kind of scams or ligit situations but that one I must say is different in at least one way: It seems to be going on forever and no one seems to know what it realy is (anything between the biggest opportunity one can find and an outright scam)
If it ends up having been an opportunity, no one will be able to say that Matin did not say it loud and clear, repeatedly and continuously.
If it ends up having been an outright scam, no on could say that signs were not totally available and obvious for all to figure it all.
This board, over the last years, has demonstrated that both scenarios can be beleived in and no one can say that the other one is right or wrong.
At least, whatever happen, I will have had my money worth of fun with it!!!
Another NR we cannot figure out the impact it would have if true.
We do not know what we are or not, we do not know what this realy means in term of revenues and/or profit poyential and we have no clue what Matin's plan is.
Why in God's name doesn't Matin normalize whatever this company is all about?
If half what he claims is true, he must be (as a shareholder) real rich and there is not possible logical reason for him to do deals after deals with shares presumably extremely undervalued.
In this release, I think he even refer to the Benglashi subs ("With our well-established overseas production capabilities,...") as if we owned it ???
What is this guy realy doing ???
Realy enjoyed the day. Very nice weather outside I started working on my ground but at my age, one has to rest now and then. That's when I played with he trader and spent time looking at my portfolio grow (great day today (CTO, TSM, LU, ...).
Time for a more than overdue shower before the wife comes back.
Nice weekend to all ... Rawnoc included (by the way thanks for the entertainment).
By the way, I did verify a lot of facts myself thru contacts of mine, I did receive messages from Matin, I did discuss with past consultants having been close to Matin and I did do some quite interesting DD on the company.
I beleive (but do not know) that Veltex is worth something, that Matin is getting well paid (3/4 of a million per year or so) trying to recuperate from past dramatic financial disasters and the whole think could succeed (but not short term) or fail all together.
This however (even if 100% true) is read on a message board.
One reading it has 2 choices: forget about it all together or use it as a base for his own DD (and looking from a window, standing on a car is only one way of doing it.)
""it is common to see messages posted that urge readers ... to sell before the price goes down"
Some will go as far as using pictures to support their urging!
"it is common to see messages posted that urge readers ... to sell before the price goes down"
Why is it that I think someone is doing that in here??? I wonder !!!
O.K. You beleive whatever you want and keep hoping you do influence people herein. The only problem is that one has to be very naive to act based on information taken out of a message board where anonymous writers having their own unverifyable agenda post facts, lies, opinions, beleifs, ....
To me they all look the same.
By the way, Veltex could very well be a scam but up to know we do not KNOW that even if one has to understand that it is highly possible.
"a message board can absolutely have a significant impact on a PPS,"
Sorry, I have more respect than that in most people sharing OPINIONS on message boards.
However, if you happen to be right (I'm sure you think you are since you're a "kNOW IT ALL" person obviously), it's realy unfortunate.
Oups!
"I find the facts provided on message boards is at the most turns out to be wrong maybe 5% of the time or less."
"facts" ??? 5% of the time or less"???
I should have known you were joking. You cannot be fool enough to beleive that.
Have fun!
Good buying ... May be after all some will be influenced by your posts. Good trading.